Shareholders Agreement: majority/minority shareholders

Shareholders Agreement between majority (more than 50% of shares held) and minority (less than 50% of shares held) in a private limited company, with control provisions for the majority shareholder and minority shareholder protections for the minority shareholder.

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When do I use this document?

  • for a company which has a majority shareholder and one or more minority shareholders
  • for provisions enabling the majority shareholder to control decision-making and other matters
  • for minority shareholder protections, including director appointment rights and rights to approve reserved matters
  • for a private limited company incorporated in England and Wales

What are the key features?

  • full form shareholders agreement
  • 30 clauses and 3 schedules over 31 pages
  • clauses relating to the following matters:
    • business of the company
    • shareholder roles and services
    • shareholdings
    • funding
    • director appointment rights and board decision-making
    • shareholder decision-making
    • dividends
    • matters requiring prior approval of specified shareholders (reserved matters)
    • future share issues
    • transfers of shares, including permitted transfers, pre-emption rights, compulsory transfer events, drag-along rights and tag-along rights
    • shareholder information rights
    • shareholder restrictive covenants
    • duration and termination

What other documents are available?

For a Shareholders Agreement for a company with equal 50/50 shareholdings, see

When do I use this document?

  • for a company which has a majority shareholder and one or more minority shareholders
  • for provisions enabling the majority shareholder to control decision-making and other matters
  • for minority shareholder protections, including director appointment rights and rights to approve reserved matters
  • for a private limited company incorporated in England and Wales

What are the key features?

  • full form shareholders agreement
  • 30 clauses and 3 schedules over 31 pages
  • clauses relating to the following matters:
    • business of the company
    • shareholder roles and services
    • shareholdings
    • funding
    • director appointment rights and board decision-making
    • shareholder decision-making
    • dividends
    • matters requiring prior approval of specified shareholders (reserved matters)
    • future share issues
    • transfers of shares, including permitted transfers, pre-emption rights, compulsory transfer events, drag-along rights and tag-along rights
    • shareholder information rights
    • shareholder restrictive covenants
    • duration and termination

What other documents are available?

For a Shareholders Agreement for a company with equal 50/50 shareholdings, see

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

Updated by a lawyer on 13/03/2023

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